Fluor Awarded Contract for World’s Largest Propylene Oxide and Tertiary Butyl Alcohol Plant

10/09/17

IRVING, Texas--(BUSINESS WIRE)--Oct. 9, 2017-- Fluor Corporation (NYSE: FLR) announced today that it was selected by LyondellBasell (NYSE: LYB) to perform the engineering and procurement for its propylene oxide (PO) and tertiary butyl alcohol (TBA) project located at its Channelview and Bayport complexes outside of Houston. Fluor booked the undisclosed contract value into backlog in the third quarter of 2017.

The project represents the single-largest capital investment in LyondellBasell’s history. When completed, the plant will produce 1 billion pounds per year of PO and 2.2 billion pounds per year of TBA. At the peak of construction, the project is expected to create up to 2,500 jobs and approximately 160 permanent positions when operational.

PO is a building block of many everyday products, including bedding, furniture, carpeting, coatings, building materials and adhesives. The TBA will be converted to fuel additives that help gasoline burn cleaner and reduce automobile emissions.

“This facility is a strategic part of LyondellBasell’s organic growth plans and we are pleased to continue our partnership on this project,” said Mark Fields, president of Fluor’s Energy & Chemicals business in the Americas. “Using our Zero Base ExecutionSM approach, the LyondellBasell and Fluor team developed a fit-for-purpose solution that optimized the plant design, leveraged global procurement opportunities and implemented a cost-effective modularization approach. Our integrated solutions approach substantially reduced the facility’s capital costs and helped LyondellBasell achieve their final investment decision on this world-scale chemical facility.”

LyondellBasell is one of the largest plastics, chemicals and refining companies in the world and has world-leading PO/TBA technology. Fluor has participated in the project since the commencement of front-end engineering and design in 2015. Project completion is expected in 2021.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is a global engineering, procurement, fabrication, construction and maintenance company that designs, builds and maintains capital-efficient facilities for its clients on six continents. For more than a century, Fluor has served its clients by delivering innovative and integrated solutions across the globe. With headquarters in Irving, Texas, Fluor ranks 149 on the Fortune 500 list with revenue of $19 billion in 2016 and has more than 60,000 employees worldwide. For more information, please visit www.fluor.com or follow Fluor on social media at Facebook, Twitter, LinkedIn and YouTube.

About LyondellBasell

LyondellBasell (NYSE: LYB) is one of the largest plastics, chemicals and refining companies in the world. Driven by its 13,000 employees around the globe, LyondellBasell produces materials and products that are key to advancing solutions to modern challenges like enhancing food safety through lightweight and flexible packaging, protecting the purity of water supplies through stronger and more versatile pipes, and improving the safety, comfort and fuel efficiency of many of the cars and trucks on the road. LyondellBasell sells products into approximately 100 countries and is the world's largest licensor of polyolefin and polypropylene technologies. More information about LyondellBasell can be found at www.lyondellbasell.com.

Source: Fluor Corporation

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